There's a lot of issues and causes of high housing costs, everything from the tax code to local zoning ordinances and NIMBY to hedge funds buying up houses to rent them out.Nope. Just most people can't buy houses.
You want to know the sad truth? It might sound like a conspiracy theory but it is very likely true, at least in part?
I once read a book on the subject written by an RCMP police investigator who explained this: Our housing market (For the record, this is Vancouver, BC, Canada) is artificially jacked up by the Pacific Rim drug and human trafficking trade. The criminals, if this book is to be believed, launder their money through the purchase of real estate. The more they spend, the more they launder. The sky is the limit.
Officially, we call them "Foreign Investors" - but they're not really investors, and not all of them are foreign.
This is, of course, on top of the fact that it's the only place in Canada that doesn't freeze in winter.
... The PacRim crime thing might apply to @Zardnaar's NZ too, come to think of it.
But is this really the proper forum for that discussion? I don't care - chat about it all you want - but this is a D&D forum not a "the world sucks" forum.